Papastavrou Jason D 4

What Happened

• Director Jason D. Papastavrou was granted 6,324 restricted shares of Chicago Atlantic Real Estate Finance, Inc. (REFI) common stock on April 20, 2026. The award was reported at $0.00 per share (acquisition value $0) and will vest over a one-year period under the company's 2021 Omnibus Incentive Plan. This transaction is an equity award (grant), not an open-market purchase or sale.

Key Details

• Transaction date: April 20, 2026; Form 4 filed April 22, 2026 (timely filing within the two-business-day requirement).
• Transaction type/code: A (award/grant); reported acquisition price: $0.00; reported total value: $0.
• Vesting: 6,324 restricted shares vest over one year (per award agreement).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F2/F3 disclaimers state the reporting person disclaims beneficial ownership of shares held in certain trusts except to the extent of pecuniary interest.
• No indication of tax-withholding sale, 10b5‑1 plan, or immediate resale — this was a compensation grant.

Context

• Equity awards to directors are common as compensation and do not by themselves signal a buy or sell decision by the insider. Because these are restricted shares, the director cannot freely sell them until they vest (subject to plan terms).